Need Help?
Need professional advice for your consent to let with Ahli United Bank (UK) plc? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Top Five Questions relating to Ahli United Bank consent to lease
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My partner and I are moving to Floridain Month, perhaps temporarily but potentially longer term. I have contacted Ahli United Bank for consent to let out our home in Ahli United Bank. I have had a mortgage with Ahli United Bank for three years and there have been no arrears. Ahli United Bank say, that even if they grant consent to let, that this will be limited consent for a period of twelve months. And then what?
- I moved out of my flat about seven months ago but didn't get around to get a consent to let letter, primarily because the mortgage fix rate period is ending next month and I am thinking about getting a new mortgage in any event. I want to ask for consent now, is that going to be problematic?
- My wife and I are looking to rent our three bed flat out. We have made an offer on a further property for us to buy and have a tenant to move into ours. I believe I have to ask our lender Ahli United Bank for consent to let. Is there a standard consent to let request letter I can copy?
- Twelve years ago I was granted permission by the local council and my mortgage provider Ahli United Bank to convert a small barn into a granny annex, conditional on it not being sold separately from my property. My parents died some years ago and I would now like to rent it out with consent to let from Ahli United Bank. Do you think this can be obtained?
- When it comes to consent to let from Ahli United Bank am I supposed to advise them each time we get a new tenant and send them a duplicate of the lease document?
- I am seeking from Ahli United Bank consent to let out my flat in Newham. I am planning to live with my mother as I am off work due to ill health.
- Please can you tell me the circumstances under which Ahli United Bank would decline a request for consent to let?
- How likely is it that Ahli United Bank force me into a consent to let product while I'm in a fixed rate product for twenty four months?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in in addition to the above Ahli United Bank consent to let Advice
Tax and Legal
There are numerous potential tax and legal (from restrictions on title, lease prohibitions to planning issues) implications when letting out your property. You should always seek the advice of a solicitor and accountant before letting out your property.
Insurance
One thing to remember when arranging a consent to let mortgage with Ahli United Bank is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your standard residential buildings insurance. As a minimum you should ensure that you are covered for any third party liability in respect of injuries to your tenant whilst at your property
Leasehold properties
Should the tenure of your property be leasehold, the lease may prohibit you from letting or require that you to have a license to do so from the freeholder. If such conditions are not complied with you may be in violation of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to advise your co-owner of your intention to let could result in them taking legal action against you. Be sure to record their consent in writing.
If you do not keep up the payments on your mortgage with Ahli United Bank your property may be repossessed